Fed Ex announces a pension plan change. The company is one of the few that continues to offer a fully paid company pension plan and that’s to their credit. After May, 2008 they will still have a fully company paid plan but in essence will become more like a 401K. This is due to regulatory changes and increases in life expectancy which penion actuaries feel scews the calculations that governed older pension plans. They expect to pay about the same amount into the plan however.
It’s a reminder that the rules keep changing. Since most of us only respond to the rules instead of setting them in our favor,it pays to have options and be building or refining new skills all the time. It’s another reason home based side businesses are booming in popularity.
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